Facebook Usage Soars, But Online Advertising Plunges

Facebook Inc. said usage of its products was skyrocketing because of the coronavirus pandemic but warned that increased activity wouldn’t shield the company from the online-advertising pullback roiling Silicon Valley and Madison Avenue alike.

In a post on Tuesday afternoon, Facebook said total messaging across the platform’s services has increased 50% in countries hit hard by the virus, with video messaging more than doubling. In Italy, which has undertaken some of the strictest restrictions on public life of any country…

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Credit: WSJ.com